Is The New York Times Co (NYT) A Good Stock To Buy?

As aggregate interest increased, key hedge funds have jumped into New York Times Co (NYSE:NYT) headfirst. Radix Partners, managed by Joshua Packwood and Schuster Tanger, created the biggest position in New York Times Co (NYSE:NYT). The fund reportedly had $0.4 million invested in the company at the end of the quarter. Glenn Russell Dubin’s Highbridge Capital Management also initiated a $0.3 million position during the quarter. The other funds with new positions in the stock are Ray Dalio’s Bridgewater Associates, Ken Griffin’s Citadel Investment Group, and Paul Tudor Jones’s Tudor Investment Corp.

Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as New York Times Co (NYSE:NYT) but similarly valued. We will take a look at Parkway Properties Inc (NYSE:PKY), Nektar Therapeutics (NASDAQ:NKTR), Commercial Metals Company (NYSE:CMC), and Marriott Vacations Worldwide Corp (NYSE:VAC). This group of stocks’ market valuations are similar to NYT’s market valuation.

As you can see these stocks had an average of 13 hedge funds with bullish positions and the average amount invested in these stocks was $123 million. That figure was $263 million in NYT’s case. Nektar Therapeutics (NASDAQ:NKTR) is the most popular stock in this table. On the other hand Marriott Vacations Worldwide Corp (NYSE:VAC) is the least popular one with only 9 bullish hedge fund positions. Compared to these stocks New York Times Co (NYSE:NYT) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

Disclosure: none.